6 Dividend-Paying Utility Stocks to Buy for a Coming Recession These 6 dividend-paying utility stocks will likely survive well if there is a recession. They will keep paying their dividends and their stock prices will tend to do better than average as a result. NRG Energy ( NRG ): Texas power utility with 20% forecast earnings trading for 9.6 times forward earnings and a 3% dividend yield. Edison International ( EIX ): This electric utility company has a 4.3% dividend yield and a forward P|E of 14 times with good earnings growth. Pinnacle West Corporation ( PNW ): This Southwest U.S. utility has a 4.5% dividend yield, higher than its 4-year average of 3.79%, which implies its reversion to the mean target market value is higher. FirstEnergy Corp ( FE ): This Akron, Ohio-based utility, which covers 5 mid-Atlantic states from Ohio to New York, pays a 3.7% dividend yield, and has an attractive forward P|E multiple of just 15.8. The AES Corporation ( AES ): This US and overseas utility has good earnings growth, an 11 times forward P|E multiple, and a stable 3.1% dividend yield which has been raised in each of the past 9 years.